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ISLAMABAD, Jan 29 (APP):Minister for Petroleum Ali Pervaiz Malik on Thursday said energy security was fundamental to Pakistan’s economic stability, industrial growth and national resilience, and assured that the government would take every possible step to protect the interests of investors in the oil and gas sector.
Addressing an annual technical conference here, the minister said the government had taken difficult but necessary decisions to ensure macroeconomic stability amid challenging economic conditions.
He emphasized the need for clear, decisive, investor-friendly and forward-looking policies in view of rapid technological shifts, rising energy demand and volatility in global markets.
He also called for long-term, integrated planning to address the challenges, warning that sustainability could not be achieved without structural reforms.
Ali Pervaiz Malik said cooperation in the energy and infrastructure sectors was indispensable for long-term economic development, noting that several Pak-China cooperation projects were underway across multiple sectors, while new opportunities were emerging in the mining sector.
He said Pakistan offered vast potential for foreign investors and assured full protection of agreements.
Highlighting recent economic progress, he said the government had taken concrete steps over the past year to stabilize the economy, with easing inflationary pressures, stabilized foreign exchange reserves and improving perceptions among international credit rating agencies.
Reaffirming the government’s commitment, the minister said the sustainability of the oil and gas sector was a central pillar of Prime Minister’s development agenda.
He assured investors of a transparent, competitive and collaborative environment, with regulatory stability and full protection of contracts.
He stressed the need for coordination among energy sub-sectors and said the Petroleum Division would act as a guarantor to safeguard investors’ rights, pledging continued engagement with stakeholders to resolve challenges on a permanent and sustainable basis.